Thursday, 30 May 2013

The current Bitcoin price is $131.48 with an average of $130.29 for
the
last 24 hours. The range is addition of $2 as compared to yesterday. This is still quite stable. Volume stands at 19 759.85 which is slightly less than yesterday's.

Wednesday, 29 May 2013

The current Bitcoin price is $129 with an average of $128.02 for
the
last 24 hours. It is about less than a dollar difference comparing the 24 hour average which is getting good. Observing the stability of the Bitcoin with great joy. This means that it is getting better and better as a trading currency. Volume stands at 23 552.05 which is less than half that of
yesterday's.

Today's news headlines Bad News for Bitcoin? I was expecting the worse. But it turned out that the Fed had shut down Liberty Exchange for a alleged $6 billion money laundering. I do not think it is fair to even equate Bitcoin with Liberty Exchange. You can use the USD for money laundering too. It is the purpose, not the currency at fault!

Tuesday, 28 May 2013

The current Bitcoin price is $130.18 with an average of $129.48 for
the
last 24 hours. The 24 hour trading is still extremely range bound at less than $3. Volume stands at 48 081.18 which is double that of
yesterday's.

Monday, 27 May 2013

The current Bitcoin price is $133.61001 with an average of $134.01 for
the
last 24 hours. The 24 hour trading is still extremely range bound. Volume stands at 23 665.87 which is double that of
yesterday's.

Sunday, 26 May 2013

The current Bitcoin price is $130.98 with an average of $130.90 for
the
last 24 hours. It appreciates nearly $1 as compared to yesterday, a very narrow gap. Volume stands at 17 294.81 which is 1/3 of yesterday's.

Saturday, 25 May 2013

The current Bitcoin price is $132.50 with an average of $129.93 for
the
last 24 hours. It appreciates nearly $5 as compared to yesterday, quite a jump. Hopefully Bitcoin won't fluctuate too much, it will not be good for businesses trying to make use of it. . Volume stands at 50 400 67 which is more than double that of yesterday's.

Today's news is a Must Read from Forbes, it is giving Bitcoin Top 10 Sites. But I certainly hope that more conventional merchant sites will be in Forbes Bitcoin Top 10 next year. For instance those selling physical goods or house hold items. Bitcoin really needs to breach those niches.

Friday, 24 May 2013

The current Bitcoin price is $126.67161 with an average of $125.36 for
the
last 24 hours. It seems that the Bitcoin prices is slowly but surely edging upwards.
This is still a very stable price for Bitcoin. Volume stands at 22 617.58.

The super news for Bitcoin Miners! An article carried by the famous Techcrunch about Cryonic Bitcoin FrostBit. It is a PC cooled by liquid nitrogen and powered by ASICs! These are awesome power hunger machine peaking at 2800W a day but able to perform 1000 Gigahashes a second. If you take a look at the network total of 94.920 Thash/s, you will find that one machine itself can contribute more than 1% of the total hash power! Of course these features filled and nitrogen cooled machine isn't on the cheap either, it costs US$15000! It is expected to be delivered in Jul 2013 and can be preordered here.

Thursday, 23 May 2013

The current Bitcoin price is $124.49999 with an average of $123.05 for the
last 24 hours. The trading is about a dollar more than yesterday's. This is still a very stable price for Bitcoin. Volume stands at 19 074.31.

Wow! Even IEEE Spectrum is writing an article on Bitcoin. The essence that Internet Archive Federal Credit Union can help setup exchanges for Bitcoin which conform to regulatory requirements so as to bring Bitcoin into the mainstream.

One of the Headline news in Yahoo Finance isn't very great. After Government Raid, Jittery Future for Bitcoin. It was saying that after the seizure of assets of Bitcoin largest exchange, we are getting nervous. Are we? I think most of us took it quite well as this is not the first time Bitcoin is subjected to such treatment. The Bitcoin prices did not indicate any nervousness of the markets at all. In fact, it has been extraordinary stable. I think this is a good quote in the article ""It is a little bit of a hysterical reaction from the U.S. authorities,"
Jon Rushman, former managing director at BlackRock and a professor at
the University of Warwick in the U.K. said in a statement".

Monday, 20 May 2013

The current Bitcoin price is $122.80 with an average of $121.87 for the
last 24 hours. Bitcoin has been staying in a very tight range recently which is good for its implementation. Volume stands at 20 603.36.

Bitcoin in the news with an Interview in PC World with a Bitcoin Developer. He talks about the various aspects of Bitcoin including the elusive founder Satoshi Nakamoto. He concluded that to ease the worries for the governments, Bitcoin exchanges should be regulated. Problem of regulating, I feel will destroy the anonymous nature of Bitcoin. We next have news on the The Winklevoss Brothers going into Bitcoin in CNN Money. Wow! We really have all the major news sites talking about us finally. There is also an interesting piece in Quartz guessing that Bitcoin's creator is Japanese mathematician Shinichi Mochizuki. Frankly speaking I feel that the author is extremely far fetched in the guessing. Everything seems to be a guess without a shred of real solid proof. By his criteria, I think everyone can be a Satoshi Nakamoto. Come on give us proof. There is enough speculations already about the identity but we need real hard evidence.

The current Bitcoin price is $123.46841 with an average of $123.81 for the
last 24 hours. This is a narrow range I must say about a deviation of
$2 which is stable and good. Volume stands at 23 091.56.

This is great exposure and great news from Aljazeera, one of the huge news network that had gain prominence in recent years. It is saying that Bitcoins' supports promise that Bitcoins can be used in Smartphones and some workers can even be paid their wages through Bitcoins which will certainly revolutionized the banking industry. You can see the video from Alijazeera here.

Saturday, 18 May 2013

This is a very cool news article on living on Bitcoins for a Week. Strongly recommended. What's more it was carried by the Forbes! Certainly an influential and fun article. Enjoy your weekends, Fellow Bitcoiners!

Bitcoin is getting so popular that basically we have the mainstream media stalking us online and now on Youtube, you can see a lot of news coming from respectable traditional news media.

From English News Today

From Fox News

We are really getting there. Some Bitcoin inquiries will be all over the place and I guess we can finally use our Bitcoins at say MacDonalds or 7-11 or Subway? I really hope such a day will come, not too long from now.

Bitcoin news coming from the Los Angeles Times! Business Section about Bitcoin concept is gaining currency! This is a great post alright! It is telling us that Bitcoin came as a rebel but is gaining popularity with Silicon Valley with about 1000 representatives this weekend discussing about Bitcoins! I love this quote "I think we're starting to see Bitcoin moving out of the shadows of the
Internet into something that becomes more mainstream," said Jeremy Liew,
a partner at Lightspeed Venture Partners. "We're starting to solve real
problems for real people. And that's exciting." We are getting there Brothers, we are going Main Stream! Just look at the number of Venture Capitalists mentioned in this article. It seems that they are all over us wanting to throw money at us to bring Bitcoins into mainstream! My main worry is the last part which mentions about government intervention. Hope they won't caused too much a problem for us by introducing some ridiculous laws.

Not quite a good news today with US Officials Freezing an account related to a Bitcoin Exchange. Well they are alleging that Mt Gox is conducting "unlicensed money service business". The USA Treasury Department wants Bitcoin exchanges to be "subject to the same money-laundering rules as traditional providers".

Mt. Gox couldn't be reached for comment. A statement on its website said
the company had "read on the Internet" about the warrant.

Hope that Bitcoin providers especially such a major player the likes of Mt. Gox will be able to settle such issues and push forward to make Bitcoin a main Internet currency of the world.

Thursday, 16 May 2013

Firstly we are not advertising for anyone for monetary gains. But we are highlighting the brave new sites that build upon the foundations of Bitcoins. Technically we have a great and stable wallet now. There are also more and more transaction tools to help with the buying and selling using Bitcoins. Our weakest links are to persuade enough merchants to adopt Bitcoins. Coingig - The Bitcoin Marketplace is one of the early adopters. Going through their web site, I am glad to see the ease of navigation and payment. 352 products at the last visit. Certainly hope that they will grow fast and expand with more and more products allowing us to use our Bitcoins easily.

Come on, Bitcoin comrades, give our support to those stores who accept Bitcoins and give them first priority!

Bitcoin News - The coming political battle over Bitcoin which is quite heartening as it claims that Bitcoin had the attention of the mainstream media. However further reading is disappointing, as it talked about Bitcoin being misused by criminal elements, as if the USD or any other currency hasn't. Next on CNN Money, "I would be very surprised if Bitcoin is still around in 10 years," said
Bremmer, the founder and CEO of Eurasia Group, the world's largest risk
consulting firm. A doomsday prediction for Bitcoin. Definitely hope that he is wrong and absolutely wrong.

Wednesday, 15 May 2013

Silicon Valley-based accelerator Boost VC is investing up to $350 000 on Bitcoin startups. This is certainly great news for us Bitcoin promoters. “We are especially interested in startups that make it easier to actually spend Bitcoin currency,” Boost VC Founder Alan Draper says. This will be exactly what Bitcoin needs! More consumers to adopt Bitcoins rather than we Geeks mining and playing around with it as a virtual currency. Now a respectable VC is putting in real money into our virtual currency to make it adoptable in the real world!

The latest Bitcoin Wallet is version 0.8.1. It is a maintenance release and not a critical release. This is a maintenance release that adds a new network rule to avoid a chain-forking incompatibility with versions 0.7.2 and earlier. This was added in 18 Mar 2013. Since Bitcoin version 0.5.0 released 21 November 2011 I have not seen any major security bug fixes which goes to show that Bitcoin itself is heading towards stability. This is a very good show and a confidence booster for those who wants to adopt Bitcoin for their businesses.

After the recent upheavals which had seen the Bitcoin breaching $200 and going below $50. We are now looking at more moderate range for the bitcoin. The last 30 days still reflect the upheaval quite badly. The range 50.01 — 166.43438. But as we can see the latest price now is $106 average of $112.84. Volume of 119 239.71. Blocks 236239Total BTC 11.156MDifficulty 11187257Estimated 11722007 in 1649 blksNetwork total 80.575 Thash/sBlocks/hour 6.04 / 596 sOne important characteristics of currency is stability and usability. Hoping to see stability, with stability, more vendors will more likely adopt the currency. The fluctuations is at low of 103.01847 and high of 119.80002 for the last 24 hours. We are using mtgoxUSD data which is the most popular Bitcoin exchange.

Bitcoin difficulty is now at an astronomical 11187257, it is basically useless to use GPU to mine it anymore even though the prices had gone up about 20 fold to $120. Those who are still mining are using ASICs more or less. One of the popular ones being from Butterfly Labs. I remembered when Butterfly Labs first made their claims on the Bitcoin Forums, they were created with skepticism. No one really believe that they can achieved. They did miss some figures but overall, they are doing extremely well.